It is only a few days since we informed you that Russia does not plan to take a similar stance within cryptocurrencies as China, and today we have more news from this country. This time, directly from President Vladimir Putin, who signaled tolerance for cryptocurrencies, which are gaining increasing control from regulators around the world due to fears that they could be used for money laundering and criminal activity.
,,Cryptocurrency has the right to exist and can be used as a means of payment
– Vladimir Putin
Russia’s central bank has repeatedly warned investors that the crypto market is extremely volatile and that digital currencies cannot be used as a method of payment in the domestic market. Russia has also been looking for a suitable alternative to trading in the US dollar for a long time since the imposition of sanctions in 2014 after the annexation of Crimea. In this case, Putin accuses the US of using its currency as a weapon. After all, it is crypto enthusiasts and many experts who claim that it is the decentralized currencies that will completely replace the FIAT currencies issued by central banks.